What is Matterport's Business Model?43

So I just wanted to share an experience with you all and hopefully we can all push for some kind of pro level account or an improvement in how matterport is pushing their product. I had a conversation with another user of this forum who recently bought a Matterport. He said that when he ordered it the people at Matterport said that there were no other Matterports in his area. Great right? Except that we have been in the area beta testing and working with Paul and Scott for almost a year. Instead of sending someone to us to even try the technology Matterport either lied or was unaware of the fact that were in the same area (which I find unlikely).

Most of us on this forum are starting new businesses and we have all invested a lot of time and money helping Matterport develop a better product. Only to have them go and sell direct to our client base? Really?!

We all know that using the Matterport is not as easy as it may appear and a certain level of skill is required. It parallels photography in that sense. Most agents and brokers use professionals to get the best possible results.

It would seem that the appropriate business model for this situation is a Distributor Model. We are in effect distributors of the technology and can act as the sales people and handle customers assist them with implementation etc. Having a knowledgeable sales person/distributor in the markets will lead to wider adoption and better understanding and use of the technology due in no small part to the fact that you would only have to buy a scan as opposed to a whole Matterport to try it.

However since Matterport seems to be pushing to sell direct to Agents/Brokers with the exact same product and capabilities I am questioning if my business is worth further investment. Just look at the Redfin deal for another example of Matterports intention to sell direct to the client base. My supplier is selling around me and offers me no ability to add value to the service now that we are not able to edit models and re-upload with the addition to the spherical panoramas/web gl implementation.

We all know that this technology is coming to a mobile phone at some point and matterport is on the record saying that they are, long term, not a hardware maker. Without some kind of pro level account with additional capabilities and or ability to add value all of us that are starting businesses with this technology will likely be screwed.

I emailed Scott pushing for some type of pro level account and I hope if you feel the same way you will too.

I know Matterport has to make money and I want to help them do that buy buying more Matterports and uploading more models but I can't justify the investment if they are just going to continuously work to cut us out in a race to put full capabilities in the hands of mobile phone users directly.

Bryn this issue goes way back way before Scott came on board. I spoke with Paul before I even bought the camera and he assured me that they would offer a white label or professional solutions for service companies like ours. It would most likely cost a little more (Paul's own words)but it was in the plans. This way it protected our investment in the technology and service and would not blatantly promote Matterport whenever we deliver a virtual tour to a client.

I sent of countless emails to both Paul and Scott as well as had conversations with them both regarding this issue. I was finally told by Scott off the record that since they’ve received the $16 mil series b funding in July the investors have made it very clear that the Matterport name will be front and center and there will never be a white label or professional solution.

I don’t think that Matterport ever intended for service companies like our to embrace the technology. This is really spelled out by their main investor Greylock Partners who is also a major investor in Redfin. That is why the Matterport landing page is now focused on the property sector.

Ultimately Matterport’s revenue stream will be the provision of 3D stitching to everyone in the future who will own a 3D equipped device. This is where the Mantis Vision comes into play as they plan on licensing their technology to every mobile device manufacture so in a year or so everyone will be capturing 3D images and going to a service bureau like Matterport to have their 3D scans rendered. This is where the big money is for Matterport. For all of us we need to be creative and look at ways to expand the virtual services we offer.

Thanks Gary! Good to know we spent $10k to put matterport's branding in front of people. Paul told us the same thing about the white label viewer and the upload button. I think every new user in this forum should be made aware of this and see how matterport likes having new units returned (not like they are really going to care if their primary focus is in the processing of 3D as you say).

Could it be that matterport will be the app for mantis technology/hardware? Would that not still give us a little leverage if we all pushed for this now as they will be racing for users but will have a large stockpile of scans already? Hmmmm...

Something tells me there are zero plans for a pro camera 2 at matterport. Again contrary to what they have said that there will always be a pro camera.

So pretty much post process editing of the obj. and that is all we have to work with since we cannot re-upload it back to matterport anymore with the web gl for a consistent user experience. How long before they stop providing the .obj?

You really think a year? I would think like three before it makes it to a mainstream device but maybe you know more than I do... This sucks. The Mantis stuff is cool but that video is a total fabrication. Has anyone actually seen a model or scan data from their system?

I agree that we were definitely blindsided by redfins entry into the 3d business. They are beta testing it here, so we get to feel it first. I have a friend that works for Redfin, so we kinda have an in. If you Don'tknow about Redfin, they don't do commission for their agents. They get paid a flat monthly rate and the agency just told them that they would be using this equipment to help sell the house. I am wondering how many devices they Have?

The first Redfin commercial was aired during the Seahawks game advertising the capability, now we get to see where it goes from here. I cold called an agent the other day and she was not impressed with the technology, would rather deal with them in person, than have a virtual open house....

How would you feel if you knew that matterport gave those units to Redfin for free. If Greylock Partners is the major investor in both its all the same money anyway. Redfin is simply setting up their website to optimize for the digital showings. They don't care if you do it with a matterport or a tablet or a mobile phone. That would actually be best for Redfin so they could get more out of their agents by having the ability to get it done with a tablet. Either way you are out of the picture. And would matterport really offer a premium service and not make it available to Redfin first? Seems like a major conflict but then again we were never the intended customers. Their goal has always been a $0.99 app or some other freemium model. We simply bought matterports to test and perfect their technology/software for them and to hand them a stack of content to view with their app. The people who took a chance and believed in them the most will be completely effed for the chance or glimmer or a hope of a $0.99 app in one to two years. Unless we all scream for some ability to add value right now. Even now it may be too late.